On September 8 ,2022, Equity Commonwealth (ticker symbol EQC) declared a $1.00 per share special dividend to be paid on October 18, 2022 to shareholders of record on September 29, 2022. EQC also paid special dividends in 2020, 2019 and 2018 but does not pay a regular (quarterly) dividend to shareholders. The $1.00 per share special dividend yields 3.8% at a stock price of $26.53 for EQC.

The company currently expects the tax character of the 2022 special cash distribution to be largely ordinary income. The company cannot provide any assurances that its current expectations will prove to be accurate. The actual tax characterization will be based on the company’s results of operations for the full year 2022. The company currently expects to announce the tax characterization of the 2022 distribution with its normal tax reporting in January 2023.

Equity Commonwealth is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. It operates in an umbrella partnership real estate investment trust (UPREIT) and conducts its activities through EQC Operating Trust (Operating Trust). EQC’s same property portfolio is comprised of 4 properties and 1.5 million square feet.